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we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther and live healthier lives. this is important for families and the economy. we are helping people stay healthy longer and one of
we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you...
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Feb 9, 2013
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this deficit was not caused by our federal work force. you are not responsible for their deficit. [applause] >> we could talk about the policies of going to war and how we pay for it, etc. but we have these large deficits and we need to deal wit. let me bring you up to date because the last time i was here was a little over a year ago and we were talking about the budget control act and how we had to deal with this deficit and how we were going to bring down discretionary domestic spending and how we were going to deal with longer term solution that is required to us deal with revenues and mandatory spending and i ask your understanding as we pass the budget control act. and at the we were analyzing a recommendation that came out of a presidential commission known as the boles simpson commission. that commission said we had to reduce the deficit by $4 trillion or $5 trillion to have sustainable growth in our country. take a minute and look at the progress that we've made since that last visit. simpson bowles which was generally recognized as a balanced approach, a bipartisan appro
this deficit was not caused by our federal work force. you are not responsible for their deficit. [applause] >> we could talk about the policies of going to war and how we pay for it, etc. but we have these large deficits and we need to deal wit. let me bring you up to date because the last time i was here was a little over a year ago and we were talking about the budget control act and how we had to deal with this deficit and how we were going to bring down discretionary domestic...
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Feb 1, 2013
02/13
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look at the cut of session of republicans. >> we have worked all year to reduce our budget deficit and to cut spending. >> we have reduced the size and role of government. we've got to cut spending. >> we'll continue to work on finding smarter ways to cut spending. >> spend less. >> when we know. when we know in terms of very clear, empirical evidence that austerity measures makes things worse. they will tell you as we saw governor romney do. corporations are people, my friend. and say governments don't create jobs. governments not only create them, but if we had allowed government spending to stay and to stimulate it, we would be in a position where we would have a much lower unemployment rate. >> much lower and much more money out there consumers, people be spending money because they'd have it. and it would go back in the system. dana, melissa, thanks for your time. and be sure to watch melissa harris perry saturdays and sundays 10:00 a.m. here on 34rks snbc. >> coming up, what a day in politics. scott brown is not running and now geraldo rivera may be geraldo? >>> plus, george bush
look at the cut of session of republicans. >> we have worked all year to reduce our budget deficit and to cut spending. >> we have reduced the size and role of government. we've got to cut spending. >> we'll continue to work on finding smarter ways to cut spending. >> spend less. >> when we know. when we know in terms of very clear, empirical evidence that austerity measures makes things worse. they will tell you as we saw governor romney do. corporations are...
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not only have they failed to come together around a big plan to reduce the deficit. they have also failed in their basic responsibility to pass appropriations bills. how we fund the government each year. we are operating today, continuing resolution on appropriations, because they failed to pass appropriations bills. the last time that congress passed all the appropriations bills and timeless 1994. it was in 1994. that is a basic responsibility. to be able to fund the government. my fear is that there is a dangerous and callous attitude that is developing among some republicans and some democrats. that these danhat these dangeroe allowed to take place in order to blame the other party or the consequences. this is a kind of so what attitude. it says let's see how bad it can get. in order to have the other party blink. i have seen that attitude before. it was the same attitude that led to a government shutdown in 1995. the same attitude. the other side will blink. even though it will hurt people. even if it's going to hurt our citizens or our security. this is a good w
not only have they failed to come together around a big plan to reduce the deficit. they have also failed in their basic responsibility to pass appropriations bills. how we fund the government each year. we are operating today, continuing resolution on appropriations, because they failed to pass appropriations bills. the last time that congress passed all the appropriations bills and timeless 1994. it was in 1994. that is a basic responsibility. to be able to fund the government. my fear is...
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the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in context of the history of this president and fiscal issues. does not pose for the budget. the senate has not passed one commend the president of the united states said this back in 2011. november 41st. already, he said, some in congress are trying to undo these automatic spending cuts, much like he did today at 115 eastern time. my message to them back in 2011, no, i will be there through any effort to get rid of automatic spending cuts to domestic and defense spending said the break president at that point. your reaction? >> that was president obama circa 2011. candid obama in a debate set s
the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in...
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Feb 9, 2013
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[applause] if you look at what is happening, it is true that the deficits are going to be below a trillion dollars for the first time in several years. it is true that the economy is beginning to grow again. this is almost like the reverse of what we did in 1993. i was perfectly well aware that if we raise taxes and cut spending, it could have a dragging effect on the economy. not nearly as much as having low growth or then having interest rates that were too high. so our gamble was that the explosive effect of lowing interest rates with a booming bond market and having more disposal income over five-10 year period to invest in america's future would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble. it will make sense here again. but timing is everything. so i think you should have a budget that does not defy arithmetic and does not follow in the trap that we had for 20 of the last 32 years which is you always get more money when you cut taxes. but it is also important that we recognize if there is literally no growth yo
[applause] if you look at what is happening, it is true that the deficits are going to be below a trillion dollars for the first time in several years. it is true that the economy is beginning to grow again. this is almost like the reverse of what we did in 1993. i was perfectly well aware that if we raise taxes and cut spending, it could have a dragging effect on the economy. not nearly as much as having low growth or then having interest rates that were too high. so our gamble was that the...
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assorted measures only in greece are deficit problem while creating jobs will help bring down the deficit by decreasing reliance on teaching net programs, increasing taxpayers in every debt to gdp ratio. job loss under sequestration would include 16,000 school teachers and aides and 20,000 head start teachers. as the american public that's what they mean by cats. we need to create education jobs by investing in teachers, modernizes goals in the first to create one in 300,000 jobs. these ideas they offered a bill in 2011 and were ultimately included in the american jobs that come which never even got a vote in the house. modernizing schools and the probing of the structure from which the balancing act we do other jobs or communities need and those are the shops are economy needs. the legislation pays for investments by including smart military cut the number for the discussion, really no discussion we'll streamliner military to meet 21st century threats. raising revenue from those who can afford to pay more, making targeted military cut, not a little at first restorer the balance deficit r
assorted measures only in greece are deficit problem while creating jobs will help bring down the deficit by decreasing reliance on teaching net programs, increasing taxpayers in every debt to gdp ratio. job loss under sequestration would include 16,000 school teachers and aides and 20,000 head start teachers. as the american public that's what they mean by cats. we need to create education jobs by investing in teachers, modernizes goals in the first to create one in 300,000 jobs. these ideas...
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Feb 7, 2013
02/13
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some of that can be used for deficit reduction. would be a lot more appealing than other taxes or cuts in entitlements, those are very difficult measures. >> a cost to carbon, and the one of those proposals, do you think that happens during the second term of the obama administration? >> i hope it will. it is a long shot because of the opposition from some republicans. a secretary, secretary schulz, a secretary of state and economic adviser under nixon and reagan, he supported the idea of a tax. a lot of republicans said, let's tax carbon and use the tax money to reduce other taxes, like corporate taxes. let's do something to move the incentives away from adding more greenhouse gases into the atmosphere. >> a democratic caller. >> good morning, c-span. the morning. that last caller, i am thankful for guys like you. i am appreciative. unfortunately, the message we are trying to get across is that global warming, how it affects the jet streams and the weather and how that intern causes climate change. the knuckle draggers you were ju
some of that can be used for deficit reduction. would be a lot more appealing than other taxes or cuts in entitlements, those are very difficult measures. >> a cost to carbon, and the one of those proposals, do you think that happens during the second term of the obama administration? >> i hope it will. it is a long shot because of the opposition from some republicans. a secretary, secretary schulz, a secretary of state and economic adviser under nixon and reagan, he supported the...
SFGTV2: San Francisco Government Television
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the great deficit in this country is the investment deficit, the investment in people and infrastructure. there were attempts to revive it. it was a super committee proposal. i think it is a good thing the super committee failed to reach an agreement. we will see where that goes. it was not a fair deal. there was so little revenue and so much padding. -- so much cutting. someone was writing the other day that the anti-tax mania is at an all-time low. reagan was willing to raise taxes. it shows how extreme. someone said the of the grover norquist may be the most powerful person in america. the new pledge he has held canada is to. he has held candidates -- the new pledge he has held the new candidates to is keeping millions -- it has a role to play in a country rich in the land grant colleges, highways, bridges. i understand the bridge out here is about to be built. i am all for infrastructure. >> obama in a way has to be the luckiest politician. if you look at the republican lineup -- [laughter] it is like michael dukakis in an oversized tank hat. >> the idea that newt gingrich is now at
the great deficit in this country is the investment deficit, the investment in people and infrastructure. there were attempts to revive it. it was a super committee proposal. i think it is a good thing the super committee failed to reach an agreement. we will see where that goes. it was not a fair deal. there was so little revenue and so much padding. -- so much cutting. someone was writing the other day that the anti-tax mania is at an all-time low. reagan was willing to raise taxes. it shows...
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we all want to fix the deficit problem. there's no question. but i think when they have a chance to look at this bill and understand what we're really facing, i don't think we're going to have a problem there. >> sir, how is this different from the proposal of a year ago? >> did we have the pay freeze? [laughter] >> it's different. obviously we had two different versions. the house as i understood it had the attrition of the work force that's in this component. in the senate last time we had a combination of -- instead of for every three positions that came open, only filling one. we had two and a combination of overall pay freeze across the federal government, for over a year. this is different. it combines both so we're on the same page. and we have the house proposal on the attrition and we've also added congressional pay freeze on it instead of the entire civilian work force. >> what makes you think that this time around, that speaker boehner's going to take up this proposal? >> i >> i would defer to others here and the chairman but there's
we all want to fix the deficit problem. there's no question. but i think when they have a chance to look at this bill and understand what we're really facing, i don't think we're going to have a problem there. >> sir, how is this different from the proposal of a year ago? >> did we have the pay freeze? [laughter] >> it's different. obviously we had two different versions. the house as i understood it had the attrition of the work force that's in this component. in the senate...
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guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was intensified leading up to and going into the financial crisis. there are a lot of reasons for these things we can talk about. what we were trying to get at in the story that -- is that this matters to the economy, and trust breaks down. there was nobel prize-winning economist who 40 years ago said that every commercial transaction has within it an element of trust. when you trust your counter party, you're more likely to engage in a transaction. when trust begins to fray, and people become suspicious of each other and each other's intentions, it
guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was...
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everybody wanted -- he was there to talk about spending deficit and debt. everybody wanted to talk about gun control. almost to a person everyone said the only reason why the government wants me to go through background checks is so they know what background i have and how many guns i have so they can take my guns. that's what the perception is. >> there's a lot of paranoia. the there is no such plot a foot from anybody involved. of course the president is out of touch with the sport with the family traditions. that's why the picture was posted. >> here's a simple solution. all gun control ought to apply to everybody that includes the body guards anybody who works for the department or agency. if you don't think i need this or that weapon to protect my family you don't need yours. i am saying all americans are worth the same. my family is eerie bit as valuable as anybody else's family when he works in congress or the branch. >> we have to leave it there. stay tuned. we are going to tell you what it takes to accurately predict the outcome of a football game.
everybody wanted -- he was there to talk about spending deficit and debt. everybody wanted to talk about gun control. almost to a person everyone said the only reason why the government wants me to go through background checks is so they know what background i have and how many guns i have so they can take my guns. that's what the perception is. >> there's a lot of paranoia. the there is no such plot a foot from anybody involved. of course the president is out of touch with the sport with...
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so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the w he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the honor, but i'm only a chairman today. the gentleman is rognized. mr. hoyer: we wish you the best for the future. the chair: thank you. mr. van hollen, may i ask for how long he was recognized? mr. van hollen: i yield four minutes. the chair: the gentleman from maryland is recognized. mr. hoyer: i thank the gentleman for yielding. mr. price of georgia said what the american people want. what the american people don't want is games. this is a game. this is a sham. this is a shame. what the american people want is honest legislatio
so, yes, reduce the deficit. but let's do it in a sensible way and the president has the prerogative of getting to put forward his budget the w he would like to present it to congress and then congress can do its work however it wants. and with that i yield to my friend and colleague from maryland and someone who has been very focused on reducing our deficits in a responsible way, mr. hoyer. the chair: the gentleman from maryland is recognized. may i remind my colleagues, i appreciate the...
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he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a direct response to the looming, across-the-board cuts. u.s. and british regulators have fined the royal bank of scotland more than $610 million for manipulating a key interest rate. the u.s. commodity futures trading commission said today that r.b.s. made hundreds of attempts to manipulate the rate known as libor. it's a global benchmark for rates on everything from home mortgages to credit card payments. two other banks-- barclays and u.b.s.-- have already been fined for their roles in the scandal. wall street mostly stayed where it was today. the dow jones industrial average gained seven points to close at
he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a...
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increasingly frustrated that the solution to decades of deficit spending is more taxation. >> the president doesn't believe we have a spending problem. he believes spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. washington has to deal with its spending problem. i watched him kick the can down the road, i have had enough of it. >> a day after they dismissed the suggestion to again postpone tens of billions of dollars of mandatory spending cuts and other departments blooming under what is sequestration the defense secretary renewed his dire warnings. >> my greatest concern today is that we are putting our national security at risk by lurching from budget crisis to budget crisis. >> downgrading the entire civilian workforce and freeze pay for members of congress. >> this is a way of doing it without cutting defense system without cuing domestic and without raising taxes. >> they plan me with the joint chiefs to show how dangerous it can be. the cuts will be. lou: thank you. it is of course no accident the pentagon chose today to focus
increasingly frustrated that the solution to decades of deficit spending is more taxation. >> the president doesn't believe we have a spending problem. he believes spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. washington has to deal with its spending problem. i watched him kick the can down the road, i have had enough of it. >> a day after they dismissed the suggestion to again postpone tens of billions of dollars of...
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year per taxpayer to cover our existing deficit. the total tab for the past four years of $1 trillion each year would be about $27,500 a year. back in the sixth district of indiana where i come from, that is a lot of money. i think we it owe it to the taxpayers know what we're doing here in washington. i yield -- i reserve the balance of my time. the chair: the gentleman reserves the balance of his time. for what purpose does the gentleman from maryland seek recognition? mr. van hollen: thank you, madam chairman. i ask unanimous consent to claim time in opposition even though i am not. the chair: the gentleman is recognized. mr. van hollen: thank you, madam chairman. i think it's very useful to let everybody in the country know exactly what the debt and deficit will be on a per capita basis. we in congress can of course do the math. i think it's no problem asking the president to run that calculation as well. again, i want to emphasize the fact there is agreement on reducing the deficit. the real differences here are over how we do
year per taxpayer to cover our existing deficit. the total tab for the past four years of $1 trillion each year would be about $27,500 a year. back in the sixth district of indiana where i come from, that is a lot of money. i think we it owe it to the taxpayers know what we're doing here in washington. i yield -- i reserve the balance of my time. the chair: the gentleman reserves the balance of his time. for what purpose does the gentleman from maryland seek recognition? mr. van hollen: thank...
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now, at some point we're going to have to begin reducing the deficit. when we do, the economy will be weak. that will make the deficit challenge even greater. it's a negative feedback loop. right now when all these democrats say, look, mr. market is saying go ahead, borrow, we don't square. that is not a really market. that's the echols building. that's one side of washington telling the other side, don't worry, i'm buying all the bonds. now, if you think this kind of ponzi finance is anything to do with capitalism or free markets or anything to do with sustainability, then you've read an economic textbook that didn't even exist in 1995. dagen: david, thank you so much. david stockman, i know it's like facelift. like the first few you get it kind of hides your age, but eventually you're going to look, well, 8 6. connell: hasn't thought of it that way, but as always, you bring up a unique perspective. dagen: what? i'm really 75. connell: well, you look great. the ftc is pressing for new guidelines on the mobile industry. dagen: and if your worried you --
now, at some point we're going to have to begin reducing the deficit. when we do, the economy will be weak. that will make the deficit challenge even greater. it's a negative feedback loop. right now when all these democrats say, look, mr. market is saying go ahead, borrow, we don't square. that is not a really market. that's the echols building. that's one side of washington telling the other side, don't worry, i'm buying all the bonds. now, if you think this kind of ponzi finance is anything...
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well it might have been but you know also our trade deficit got a lot bigger and that subtracted from g.d.p. that is a problem that's only going to get worse and you know think about this we've had a tax increase on everybody here in two thousand and thirteen so i'm eric is going to be paying higher taxes i think we're going to have a larger not smaller budget deficits so i think two thousand and twelve might be the high point of the obama term and you know obama often talked about the lousy economy he inherited from bush well now he's dealing with a lousy economy he inherited from himself and i think whoever succeeds succeeds bush i mean obama the next president is going. actually inherit a worse economy than either did in his first term i think the obama recession is going to be much worse than the obama recovery and you know the obama recovery has been the weakest recovery ever you can imagine how bad the recession is going to be that's certainly a scary thought for a lot of people that are hoping and praying that we do not have another recession like the one that we just got out o
well it might have been but you know also our trade deficit got a lot bigger and that subtracted from g.d.p. that is a problem that's only going to get worse and you know think about this we've had a tax increase on everybody here in two thousand and thirteen so i'm eric is going to be paying higher taxes i think we're going to have a larger not smaller budget deficits so i think two thousand and twelve might be the high point of the obama term and you know obama often talked about the lousy...
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so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complain but i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered because he's more worried about the country's debt and the ratings agencies make. in a short video french communists put together some of the lawns major presidential campaign bows none of which they say came true. look what that's. the value added tax increase. i think it's inappropriate and unjustified and unreasonable and too hasty. what happened to well that's to remind the presidents do you remember you promised to review the european treaty you didn't do that here in germany set a three percent deficit isn't real but now only say it's possible etc etc you can't not do what you prom
so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complain but i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he...
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it reduces deficit even though it increases government health spending and reduces the deficit because it's got tax increases that are bigger than the increases in spending response to the extent that our medium and long-term problem is driven by demographic and the growth on health care spend withing the law has made the second of those worse. >> i think that is not , i mean, you're absolutely right. there's no question that we expanded -- coverage to mills of americans. i think 23 million people that have health insurance that didn't have it before. it's not free. it comes at the cost. everyone understood it came as a cost. it was paid for in part by tax increases and cuts in other government health care spending. it was not all on the revenue side. the other thing that is important for the congressional budget office said it reduced the it in the first decade, which is what they look at if you look in the the second decade, we think it will reduce the deficit even more. i think they were in fact giving credit and thinking it would slow the growth rates of some of the health care spe
it reduces deficit even though it increases government health spending and reduces the deficit because it's got tax increases that are bigger than the increases in spending response to the extent that our medium and long-term problem is driven by demographic and the growth on health care spend withing the law has made the second of those worse. >> i think that is not , i mean, you're absolutely right. there's no question that we expanded -- coverage to mills of americans. i think 23...
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this president said he was going to cut the deficit. he went from a $6 trillion economy to a $9 trillion economy. his jobs plan was a complete failure. the democrats talkbout the war on women, yet you have this mr. menendez who flieso a southern country, has sex with an underage gal, and does not want to pay this prostitute. here's a guy who makes all kinds of money. it is ridiculous. the democrats had senator byrd in the race -- in the senate for years and they talk about race. you guys do not seem to be able to get your message across. i know you are frustrated. it is not a spending problem. of course it is a spending problem. we never have budgets like this, throwing money at all times of all kinds of different programs. how many more democrats talk about, i did not cheat on my wife, i only did it when her cancer was in remission. guest: the caller has raised a number of different points. one point, the overarching theme of his call was the frustration he has of republicans getting the message out. i do appreciate c-span allowing us
this president said he was going to cut the deficit. he went from a $6 trillion economy to a $9 trillion economy. his jobs plan was a complete failure. the democrats talkbout the war on women, yet you have this mr. menendez who flieso a southern country, has sex with an underage gal, and does not want to pay this prostitute. here's a guy who makes all kinds of money. it is ridiculous. the democrats had senator byrd in the race -- in the senate for years and they talk about race. you guys do not...
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we have big deficits. lori: the decrease in government spending continue to equate it to the government downsizing? many republicans are looking. spending cuts. >> a little bit. it is not drmatic. it is not the size of government is falling of a cliff, his traveling down, not up. lori: the senate approved a house plan to approve the debt ceiling and hold off on congressional pay if they don't get a budget deal for the next ten years. you say this is more of a risk and even the fiscal cliff was. >> oh, yes. the debt ceiling is a potentially large fiscal contraction like the fiscal cliff was. even bigger, actually, if you do the math. debt ceiling is you cannot borrow, so you have to balance the budget tomorrow. in addition to that, there was the kind of not very real threat that we might default on the national debt or postpone payments, o you're playing with a combination of a big fiscal contraction and the possibility of triggering a financial crisis also. lori: i want to ask you about your book. after th
we have big deficits. lori: the decrease in government spending continue to equate it to the government downsizing? many republicans are looking. spending cuts. >> a little bit. it is not drmatic. it is not the size of government is falling of a cliff, his traveling down, not up. lori: the senate approved a house plan to approve the debt ceiling and hold off on congressional pay if they don't get a budget deal for the next ten years. you say this is more of a risk and even the fiscal...
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i don't think the focus has changed to the median term deficit. i think it is front and center precise i will because it has to be -- precisely because it has to -- we have an unemployment rate slight i will below 8%. if you're at a do more infrastructure spending or you're going to make the kind of investments in education that will put people back to work, the only way you ever get a congress to go along with you if you say let's make this part of a package to deal with the other long-run fiscal things. in dealing with some of this is making space to get more short-term recovery. >> except that -- >> poor anna. >> i want this, exactly. >> to move the needle -- if you're pulling on the fiscal policy lever you have to pull from your heart. in 2008, president bush proposed and congress enacted what we called the fiscal stimulus bill. on the right of the aisle it was not forbidden to call it that. it was bipartisan and it was $150 billion pushed out over an 18-month period. we figured that was probably at least the smallest size you needed to move t
i don't think the focus has changed to the median term deficit. i think it is front and center precise i will because it has to be -- precisely because it has to -- we have an unemployment rate slight i will below 8%. if you're at a do more infrastructure spending or you're going to make the kind of investments in education that will put people back to work, the only way you ever get a congress to go along with you if you say let's make this part of a package to deal with the other long-run...
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if we combine those things together, then we cannot only reduce our deficit, but we can continue to invest in things like education and research and things that will help us grow. >> meantime, the president leaves washington tomorrow for minnesota to make his case for new gun restrictions. it's part of an attempt to pressure congress to take action in the wake of the horrific shootings in newtown, connecticut. the president has called for new safety programs and universal background checks. he also wants congress to renew the assault weapons ban. >> let's talk more now about the president's push for new gun restrictions with our contributors lz anderson and anna, in washington, a republican strategist. so guys, as the president gets ready to take his message on the road, the white house released a photo that shows him skeet shooting at camp david. there he is in his golf shirt, firing away. so anna, the president says skeet shooting is something he does all the time at camp david, but until a week ago he had never even mentioned it before. what is going on here? >> look, i think -- i think
if we combine those things together, then we cannot only reduce our deficit, but we can continue to invest in things like education and research and things that will help us grow. >> meantime, the president leaves washington tomorrow for minnesota to make his case for new gun restrictions. it's part of an attempt to pressure congress to take action in the wake of the horrific shootings in newtown, connecticut. the president has called for new safety programs and universal background...
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everybody wanted -- he was there to talk about spending deficit and debt. everybody wanted to talk about gun control. almost to a person everyone said the only reason why the government wants me to go through background checks is so they know what background i have and how many guns i have so they can take my guns. that's what the perception is. >> there's a lot of paranoia. the there is no such plot a foot from anybody involved. of course the president is out of touch with the sport with the family traditions. that's why the picture was posted. >> here's a simple solution. all gun control ought to apply to everybody that includes the body guards anybody who works for the department or agency. if you don't think i need this or that weapon to protect my family you don't need yours. i am saying all americans are worth the same. my family is eerie bit as valuable as anybody else's family when he works in congress or the branch. >> we have to leave it there. stay tuned. we are going to tell you what it takes to accurately predict the outcome of a football game.
everybody wanted -- he was there to talk about spending deficit and debt. everybody wanted to talk about gun control. almost to a person everyone said the only reason why the government wants me to go through background checks is so they know what background i have and how many guns i have so they can take my guns. that's what the perception is. >> there's a lot of paranoia. the there is no such plot a foot from anybody involved. of course the president is out of touch with the sport with...
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>> kerry has said he wants to focus on the middle east, and that has been a deficit in terms of the israeli-palestinian track. certainly, i mean, the arab spring made it much more difficult, much more complicated, but some would argue made it more necessary. >> well, yeah. the middle east is also one of the drains that can suck all the oxygen out of the room. you know, you could get involved in it and get sucked down all these different kind of rabbit holes that exist in the middle east. syria, israel, palestine, egypt, iran, iraq which could, you know, get rough, afghanistan, which is a problem. all of those things are, i guess, threads that he could pull on that could leave him not enough time to deal with the trans-atlantic relationship, to deal with china, to deal with our neighbors like mexico where their priority issues. to deal with rebuilding the international institutions that need to be rebuilt. i think he has to be a bit careful not to fall into that trap. >> finally, what about iran and whether we are going to be caught up in something that israel launches or that we have to launch with isr
>> kerry has said he wants to focus on the middle east, and that has been a deficit in terms of the israeli-palestinian track. certainly, i mean, the arab spring made it much more difficult, much more complicated, but some would argue made it more necessary. >> well, yeah. the middle east is also one of the drains that can suck all the oxygen out of the room. you know, you could get involved in it and get sucked down all these different kind of rabbit holes that exist in the middle...
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so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complains when i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered because he's more worried about the country's debt and the ratings agencies make. in a short video french communists put together some of our lawns major presidential campaign vows none of which they say came true. but what that's all that if you know the value added tax increase. i think it's inappropriate and unjustified and unreasonable and too hasty. what happened to well that's to remind the president you remember you promised to review the european treaty you didn't do that your german bring said a three percent deficit isn't real but now only say it's possible etc etc you can't
so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complains when i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he...
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our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and on middle income families. creating money out of thin air to fund the president's spending must stop. the first step is to stop the reckless spending by having the president present a plan to balance the budget. this is a simple request with no reasonable excuse for opposition. i support h.r. 444, the require plan act, to protect our seniors, the poor, and middle income families. i yield back. the chair: the gentleman yields back. the gentleman from maryland is recognized. mr. van hollen: madam chairman, again we have heard a number of the
our deficits are financed by treasury bonds. most of which are being purchased by the fed with newly created money. this drives up the price of bonds and keeps interest rates artificially low, seniors on fixed incomes who have saved their whole lives now cannot make a fair market on their interest for their savings. in addition to squeezing the incomes of our seniors, creating money to fund deficits also drives up prices which has a disproportionate adverse effect on seniors, on the poor, and...
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as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75
as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets,...
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even if we have had a zero deficit. many program cuts and terminations would increase gdp and would expand individual freedom. and so the political upshot of this, and i will close on this, the clinical upshur, the fiscal conservatives always say they want to cut spending but not all of focus in recent years by fiscal conservatives in congress has been trying to impose over all restraint by putting on budget gaps, by voting for a balanced budget amendment. those sorts of cats are fine. i'm not against them but they don't reduce the underlying pressures to spend big only way to do that is to directly challenge particular programs and make the argument that particular program are harmful and wasteful, unconstitutional, unjust and unneeded. so to make lasting reform fiscal conservatives in congress need to make start making the case cost -- cuts too many programs bigger the republicans want to kill funding for big bird, for example, as candidate romney wanted to do, they got to make the case for. they got to lay out the ca
even if we have had a zero deficit. many program cuts and terminations would increase gdp and would expand individual freedom. and so the political upshot of this, and i will close on this, the clinical upshur, the fiscal conservatives always say they want to cut spending but not all of focus in recent years by fiscal conservatives in congress has been trying to impose over all restraint by putting on budget gaps, by voting for a balanced budget amendment. those sorts of cats are fine. i'm not...
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he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a direct response to the looming, across-the-board cuts. u.s. and british regulators have fined the royal bank of scotland more than $610 million for manipulating a key interest rate. the u.s. commodity futures trading commission said today that r.b.s. made hundreds of attempts to manipulate the rate known as libor. it's a global benchmark for rates on everything from home mortgages to credit card payments. two other banks-- barclays and u.b.s.-- have already been fined for their roles in the scandal. wall street mostly stayed where it was today. the dow jones industrial average gained seven points to close at
he put forward a proposal for avoiding that outcome while congress continues working on longer term deficit reduction. that's the sensible thing to do. why make-- why punish the american people because you haven't been able to achieve your ideological objectives through other means? >> sreenivasan: in another development, the associated press reported the u.s. military is cutting back from two aircraft carriers to one, in the persian gulf. the report cited u.s. officials who said it's a...
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if we cut the deficit we see a major bump 10 years, down the road. look at that even though the economy will take a hit in the short term. when it comes to the deficit, shouldn't we focus on the long game here i'm wondering? here with more is former director of the congressional budget office, douglas holtz-eakin. thanks so much for joining us. >> thank you. melissa: i was so excited the cbo finally went out and quantified this and tried to illustrate it to people. anytime you try to make the case we should cut spending short term to help our children down the road or ourselves depending how long you are, people poo-poo that is not like real math s that real math we saw on the bar charts? >> that is real math and the second example of that real math is what the cbo put out which says, suppose you do nothing? well, then we have a fault turf bad growth. their long-term growth rate for the u.s. has been marked down from 2 1/2% a year ago to 2.2%. and that's testimony to a staggering debt burden this economy is bearing. whether you look at it as the bad
if we cut the deficit we see a major bump 10 years, down the road. look at that even though the economy will take a hit in the short term. when it comes to the deficit, shouldn't we focus on the long game here i'm wondering? here with more is former director of the congressional budget office, douglas holtz-eakin. thanks so much for joining us. >> thank you. melissa: i was so excited the cbo finally went out and quantified this and tried to illustrate it to people. anytime you try to make...
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deficits which you could use some military activities being stepped up in europe as if we had some security threats that. efforts continue to loom of the large nater to move the military infrastructure eastwards as if we had no statements at the highest level about the negative effects of divisions in the continent some of our european all of the partners are now drawing new dividing lines so that trying to divide integration projects between good and bad there but only knight is discussing and smart defense but it does not say who it is going to defend itself from is much more important to launch a new smart foreign policy at the wishes of maximizing the opportunities for collective work instead of wasting our resources if we're leading economies as part of the g. twenty could where it makes solid. efforts to address the financial crisis why cannot we do the same in policy russia join w t o and we appreciate the united states europe and other countries who supported that but we look at the w t o was set up to. tied protectionism in trade and. economies if you would if we try and look at th
deficits which you could use some military activities being stepped up in europe as if we had some security threats that. efforts continue to loom of the large nater to move the military infrastructure eastwards as if we had no statements at the highest level about the negative effects of divisions in the continent some of our european all of the partners are now drawing new dividing lines so that trying to divide integration projects between good and bad there but only knight is discussing and...